Canada: Some of what I’m reading this morning

Canada: Some of what I’m reading this morning

Alberto Calva – THURSDAY, July 3, 2025

· Exchange rate $1.359 USD/CAD or $0.736 CAD/USD (opening today, 8:00 am ET).

· Multiple Canadian airports faced bomb threats today, Thursday morning, that grounded flights and are expected to cause widespread delays. Airports returning to normal operations.

· In May, Canada's merchandise exports were up 1.1%, while imports fell 1.6%. As a result, Canada's merchandise trade deficit with the world narrowed from a record $7.6 billion in April to $5.9 billion in May.

· Prime Minister Mark Carney met with automotive sector CEOs Wednesday morning to discuss U.S. tariffs and ways to protect Canadian supply chains from the trade war with the U.S. The CEOs of Ford Canada, Stellantis Canada and GM Canada met with Carney, along with Brian Kingston of the Canadian Vehicle Manufacturers' Association. A brief readout from the PMO said the group discussed "the need to build up a made-in-Canada supply chain as well as diversify our trading partners."

· Uber drivers in B.C.’s capital, Victoria, have successfully unionized, achieving “the first union certification of its kind for Uber drivers in Canada,” according to UFCW Canada.

· Tips used to be more private. Dropped in a cup or calculated after the bill came. Now suggested tips are on the rise, irking some Canadians, and raising big questions about business practices that make workers more dependent on tips and keep their wages low.

· Man accused of vandalizing Ottawa Holocaust memorial denied bail. Iain Aspenlieder will remain in custody until his next court date which is scheduled for Wednesday, July 9.

· Bombardier shares went up after deal for 50 jets valued at US$1.7 billion.

· Unemployment rate in the U.S. for June 2025 was 4.1%. Last month it was 4.2% (May 2025) and it was 4.1% a year ago (June 2024). The average unemployment rate in the U.S. in the last 10 years is 4.6%. 147 thousand jobs were added in June (+0.1%) compared with the previous month, and there are +1.1% more jobs than same month a year ago (June 2024).

· Del Monte Foods, the 139-year-old company best known for its canned fruits and vegetables, is filing for bankruptcy protection as consumers increasingly bypass its products for healthier or cheaper options. Del Monte Foods is based in Walnut Creek, California. (CBC)

· Microsoft says it is cutting thousands of jobs in its second round of mass layoffs in recent months.

Alberto Calva, X(Tw): @acalva

Our expertise field is corporate finance. We do consulting, as well as business valuations. We give workshops for businesspeople.